Definition. Balanced Price is the difference between Realized Price and Transfer Price. Transfer Price is the cumulative sum of Coin Days Destroyed in USD, adjusted by circulating supply and total time since Bitcoin's inception. The model aims to detect major cycle bottoms.

Notes. Created by David Puell. For more information, see Experiments on Cumulative Destruction.

This is the Point-in-Time (PiT) variant of Balanced Price. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.